Global Packaging Trends Analyzed In New Report BY GREG KISHBAUGH
Mintel has produced its 2023 Global Packaging Trends re- port. Using PESTEL analysis—a framework used to analyse and monitor the macro-environ- mental factors that have an impact on an organization, company or industry—Mintel has examined the Political, Economic, Social, Techno- logical, Environmental and Legal factors impacting global packaging evaluations, planning and deci- sion-making. Mintel then identified the threats and opportunities companies, brands and man- ufacturers need to be aware of in 2023 and beyond. Political Factors The conflict in Ukraine continues to negatively affect trade and international relationships. Meanwhile, OPEC’s stranglehold on crude oil production is putting a pinch on consumers’ purchasing power. Instability among major governments’ leadership and the potentially worrisome November 2024 U.S. Presiden- tial Election cast a long shadow over the global political picture. The threat of a global recession looms large. While the global COVID-19 pandemic is easing in much of the world, the extreme political polarization it created, including quarantine and vaccine mandates, has created divisions among consumers that will linger. Package manufacturers must get ahead of legislation Legislators are increasingly confident in using legislation to drive environmental change and nudge consumers to- ward healthy consumption behaviors. However, brands and package manufacturers must get ahead of this legislation. Invest in recycling infrastructure Mirroring consumer concern over plastic pollu- tion, legislators are looking to ensure plastic waste is kept and recycled domestically. For example, in the UK, Members of Parliament have called for a com- plete ban on the export of plastic waste by 2027. Prepare for deposit systems Governments are looking to deposit return schemes (DRS)—which add cost at the point of sale—to in- crease the quantity of used packaging returned for recycling. For example, Finland claims that more than 90 percent of bottles and cans purchased in the country in 2020 were returned for recycling. What political factors mean for the packaging in 2023: Prepare for regulatory increase From nudging consumers into better consumption habits to increasing collections of recyclable packag- ing, legislators are looking to harness the power of legislation to affect social and environmental change. Greg Kishbaugh
For the latest, up-to-the minute news in the Flexo Industry — acquisitions, installations, market trends, personnel changes — visit FlexoMarketNews.com EVERY day. On your laptop or mobile device.
www.FlexoMarketNews.com
CONTINUED ON PAGE 66
www.boardconvertingnews.com
64
April 24, 2023
Made with FlippingBook Digital Publishing Software